Question for anyone who has moved cities for a job, just curious to get some thoughts from people who are similarly aged as well as more senior folks for insights.
I currently work for a small but promising industry focused PE fund in a top city (NY,SF,LA). AUM is ~$500M but returns are good and we have line of sight to at least a few more funds. I have been there for a few years and am doing well, the fund is doing well, I have carry in the fund, path to partner etc.
Downsides are the cash comp isn't great and I've become a little disenchanted with the fund and am starting to have some questions about firm culture. Now its not terrible in the "I need to leave now" type of way, but it does make me question whether or not I see myself there long term. Basically the partners are great investors and poor managers and its starting to show. A little bit of a dictator culture where the MP has a lot of power and can treat people pretty poorly (not just me) from time to time.
I've lived in this city for 6ish years now and love it, but don't see myself setting down. Cost of living is too high and I'm not really an urban guy long term. With that being said, I have a great network of friends and have a pretty good lifestyle overall.
I recently got an offer from a much larger fund(multi-billion) in the same industry but with a slightly different focus, which is more aligned to what I want long term(withholding details for anonymity). The team seems great, they're excited about me, and the role is a lateral move but still partner track at a much larger firm. Cash comp is in line with what I have and there's equity being offered as well.
The big kicker is that this new position is located in a Tier 3 city and I don't have any ties to the city at all. So would basically be starting over. Also a single guy for what its worth. It is closer to home, which is eventually where I'd want to settle and it's not a flyover city or anything like that. They have a few pro sports teams, kind of up and coming, etc. Plus my cash comp is pretty much the same as what I'd have in my current role, so adjusted for cost of living its basically like 2x'ing my comp. I'm excited about the role, but I worry about leaving everything behind for a role that is great, but in a place that I'm somewhat uncertain of.
Curious if anyone else has faced this before and what they ended up doing.